Ra Pharmaceuticals Inc (NASDAQ:RARX) was the target of a large increase in short interest in the month of December. As of December 29th, there was short interest totalling 1,085,182 shares, an increase of 41.2% from the December 15th total of 768,462 shares. Based on an average daily trading volume, of 175,349 shares, the short-interest ratio is presently 6.2 days. Approximately 11.7% of the shares of the company are short sold.
Ra Pharmaceuticals (NASDAQ:RARX) traded down $0.54 during trading hours on Monday, hitting $6.48. 259,542 shares of the stock were exchanged, compared to its average volume of 150,373. Ra Pharmaceuticals has a one year low of $6.46 and a one year high of $27.84.
Ra Pharmaceuticals (NASDAQ:RARX) last released its quarterly earnings data on Thursday, November 9th. The company reported ($0.68) EPS for the quarter, missing analysts’ consensus estimates of ($0.62) by ($0.06). research analysts anticipate that Ra Pharmaceuticals will post -2.46 earnings per share for the current fiscal year.
Institutional investors have recently made changes to their positions in the stock. Alliancebernstein L.P. acquired a new stake in shares of Ra Pharmaceuticals during the 2nd quarter worth about $195,000. The Manufacturers Life Insurance Company increased its position in shares of Ra Pharmaceuticals by 30.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 10,860 shares of the company’s stock worth $204,000 after purchasing an additional 2,543 shares in the last quarter. Rhumbline Advisers acquired a new stake in shares of Ra Pharmaceuticals during the 2nd quarter worth about $241,000. Swiss National Bank acquired a new stake in shares of Ra Pharmaceuticals during the 2nd quarter worth about $247,000. Finally, New York State Common Retirement Fund increased its position in shares of Ra Pharmaceuticals by 87.8% during the 2nd quarter. New York State Common Retirement Fund now owns 13,900 shares of the company’s stock worth $260,000 after purchasing an additional 6,499 shares in the last quarter. Institutional investors and hedge funds own 69.59% of the company’s stock.
Several analysts recently issued reports on the stock. Zacks Investment Research raised shares of Ra Pharmaceuticals from a “hold” rating to a “buy” rating and set a $9.50 price objective for the company in a report on Wednesday, January 10th. ValuEngine downgraded shares of Ra Pharmaceuticals from a “sell” rating to a “strong sell” rating in a report on Friday. Credit Suisse Group increased their price target on shares of Ra Pharmaceuticals from $19.00 to $23.00 and gave the company an “outperform” rating in a report on Friday, November 10th. BMO Capital Markets raised their price objective on shares of Ra Pharmaceuticals in a report on Tuesday, December 5th. Finally, Royal Bank of Canada reaffirmed a “buy” rating and set a $18.00 price objective on shares of Ra Pharmaceuticals in a report on Tuesday, December 5th. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $20.50.
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About Ra Pharmaceuticals
Ra Pharmaceuticals, Inc is a United States-based clinical-stage biopharmaceutical company. The Company focuses on the development of therapeutics for diseases of complement dysregulation and a range of orphan indications. It utilizes small molecules and peptide approaches to address pathological targets in the complement cascade.
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